Betting odds show the lowest "Grexit" probability this year

LONDON, July 10 (Reuters) - The chances Greece will leave
the euro zone this year fell on Friday, according to bookmakers'
odds, with one firm saying the likelihood is now lower than at
any time this year and another suspending betting altogether.

Optimism that the country will stay in the 19-nation bloc
for the remainder of 2015 has risen after the Greek government
submitted last-minute reform proposals to its creditors,
proposals which French President Francois Hollande said were
"serious and credible".

Talks will now resume between Athens and creditor
institutions in the hope that a deal will be reached before
Sunday's deadline, keeping Greece in the euro zone.

Punters are betting that because the proposals put forward
by Athens appear to be even tougher than the ones rejected in
last Sunday's referendum, Greece's creditors will accept them
and continue to give aid to keep the country afloat.

British bookmaker Ladbrokes offered odds of 3/1 on Greece
leaving the euro zone this year, implying a 25 percent chance.
That's the lowest probability this year.

"The betting markets are giving Greece a hefty vote of
confidence going into the weekend's negotiations," said Alex
Donohue of Ladbrokes.

Rivals Paddy Power on Friday suspended betting on a 2015
Grexit.

"The punters certainly seem to think there's signs of Greece
lightening up and have been backing Greece to stay in the
Eurozone at any price they can get," Paddy Power said.

Paddy Power had been lengthening its Grexit odds all week.
Earlier on Friday they were 23/10, implying a 30 percent
probability; on Thursday 11/8, implying a 42 percent chance; and
on Tuesday 11/10, reflecting a 48 percent likelihood.

UK bookmaker William Hill said on Friday its odds of a 2015
Grexit had widened to 10/3, reflecting a 23 percent chance.

On Thursday, they stood at 13/8, implying a 38 percent
chance and on Wednesday they were 5/4, implying a roughly 45
percent probability.

A growing number of economists, however, still reckon Greece
will eventually leave the euro zone.

Following last Sunday's referendum in which Greek voters
rejected an earlier offer from the country's creditors, Citi, JP
Morgan, Barclays, Societe Generale, Royal Bank of Scotland and
BNP Paribas all said Grexit at some point in the future is now
more likely than not.
(Reporting by Jamie McGeever; Editing by Larry King)